Working from home on Friday, I head into the kitchen mid-morning to grab a cold beverage + snack. The small TV was left on, and I was captivated – and more than a little horrified – by the segment that was playing:

Special Report: Stagflation! Recession! Layoffs! Market Crash!

I don’t watch a lot of broadcast TV news –Bloomberg Surveillance in the AM, 60 Minutes, and CBS Sunday Morning — that’s pretty much it. This was genuinely shocking to me. It was a straight-up fear-mongering. The story unfolded without sort of framing or any sort of context:

Layoffs: were discussed, but there was no mention of the hiring boom of the past five years; that there are two job openings for each job seeker, or even how low the unemployment rate is.

Inflation: Comparisons to the 1970s were made, with lots of anecdotal examples. The Fed is behind

Keep reading this article on Barry Ritholtz - The Big Picture.

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